
I remember when I bought my first home and within a few months there was a rate rise. I freaked out and was forced to redo my budget. Fortunately, it meant I simply had less play money for nights out. I was 24 so the extra $25 a week in loan repayments was a lot to me. Fast forward to the GFC when rates went up to over 8% and then rapidly started to decline as the economy came to a halt. I had out of fear locked in at…